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Which of the following statements is true regarding common size financial statements? A common size balance sheet is created by dividing all items by total

Which of the following statements is true regarding common size financial statements?

A common size balance sheet is created by dividing all items by total assets.

A common size balance sheet is created by dividing all items by net income.

A common size income statement is created by dividing all items by total assets.

A common size income statement is created by dividing all items by net income.

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